Bay Area Condo ?
Posted: Thu Mar 27, 2008 6:39 pm
Hi folks,
Need inputs on buying a condo in the Bay Area. Is it a good time to buy ?
Most condos are 430-480K range these days.
not sure if it's going to drop more.
I'm looking at a 5 year window to sell if I buy now (before R2I). I need to make 100K to break even. (6% selling costs + 2% buying costs + 8% difference in rent vs mortgage and 4% loss of interest on downpayment for 5 yrs)
Any thoughts ?
Need inputs on buying a condo in the Bay Area. Is it a good time to buy ?
Most condos are 430-480K range these days.
not sure if it's going to drop more.
I'm looking at a 5 year window to sell if I buy now (before R2I). I need to make 100K to break even. (6% selling costs + 2% buying costs + 8% difference in rent vs mortgage and 4% loss of interest on downpayment for 5 yrs)
Any thoughts ?